India’s primary market scaled a fresh record in 2025, with companies raising nearly Rs 2 lakh crore through IPOs, marking one of the strongest fundraising years ever, according to a report.
Key highlights:
- Mainboard IPOs dominated, contributing around 94% of the total capital raised, underscoring strong institutional and retail appetite for large, established issuers.
- The surge was driven by robust equity valuations, sustained domestic inflows, and a steady pipeline of large issuers across sectors such as financial services, manufacturing, healthcare, and consumer businesses.
- Several marquee listings delivered strong post-listing performance, further boosting confidence and attracting repeat participation from investors.
- The IPO frenzy also reflected companies monetising favourable market conditions after years of private capital funding and balance-sheet strengthening.
Market participants expect the momentum to extend into 2026, supported by a healthy deal pipeline, improving earnings visibility, and India’s growing weight in global equity allocations.
